This blog was created personally to help women manage their money, but why? Because still nowaday nothing have to change the new survey said that 60% of women don’t know the basic financial terms, and 80% of these women are responsible for day-to-day management of household finances. To be ignorant about how money is working is like remain powerless outside particular accept of life and like not being independent at all. Most women will only wait a wake-up call to start managing their money? Even if this is critical to know how to handle your money, women will wait until they are in a perilous situation to start thinking about this.

Financial independent and Financial Comprehension is vital for women.

It very common for professional women to still don’t know what to make with their money, how to invest, to save, and even how to open a debit account. We, women, are very trustworthy and this is at our disadvantage we need to know more about the basics financial term so no bank or people can fool us. Women must learn about money because it’s a fact women are around money more than men in everyday life. And it’s still true that women earn less than men do and also change more often jobs, usually in a pursuit of making more money because promotion is so more difficult for women to get than men and just changing job is more easier. There is also this big fear that many women have that if we go without a job they will be broke, or their husband died or divorce. That why many of us stay in abusive relationships or job we don’t like because we are scared of living in poverty and be broke.
To put an end to this fear we must has women learn more about finance, that why I decided to make my major in University Finance and Banking so no one can make a fool of me.

It’s time for women to add their unique personality to the finance world and to learn how to manage their finances.
We have women or person should not be scared to talk about money this totally normal. How if we don’t talk about it we are going to learn more about it ? That why I get myself a mentor, women mentor that teach me all the financial terms, and even influence to start saving. She tells me story of her younger self about how she would have done better, like she sould have start saving at 20’s instead of 30’s. And everything she regret buying.
Has women we must face our fears. You must decide how to spend your money, save it, and how to invest it. And even how to don’t be scare to talk about it with your partner or husband easily. You must learn to unlearn what you have learned that whithout a spouse or a partner you will be poor, or even the fear that has women you will always ear less than men, or just the fear of being poor. That why I see so many women getting in marriage, they don’t like because they think that without this man, they will not be able to manage to buy a house or food. They sale their pettiness to settle for less that they deserve, you deserve to be in love relationship base with respect and not on your fear about money.

We are also more scare of men of lossing money that why we don’t invest as quickly. Men usually ear more than women, that why if they lose money they can replace it easly.
We have women must learn to unlearn what we have been taught to be scare of MONEY.

That why I decided to do a blog especially for women, because has a women myself without my mentor I would never have to know what I know today. And I know how it’s difficult for us women to find a good guide. I will be your mentor with this blog (for any question you can always ask via comment or send me email I would be grateful to be able to help you make budgeting melissaglouis@gmail.com)

If you’re in your 20’s, you’re surely new with financial terms and banking. So let’s start from scratch! Because with every new fashion trend, new makeup trend your finances can quickly become a little too overwhelming! If you’re in your 20s you’re surely always thinking did I am too young to start planning my budget, to take major responsibilities or too old to spend all your salary on this new Gucci Bag. Here I will talk about the basics… The number one rules I learn with time is that self-discipline is more important than anything else event than your salary.

The start of financial independence is finding a job.
Get experience, I know this taught to do. But when you’re young living at your parent’s house this is the best time to go do an internship. I understand you’re young and want to enjoy your summer break, but I can ensure you that doing an internship when you’re still living at your parent’s house is so easier than doing it residing in a dorm or when you are living alone. The more you have experienced even if it’s waiters are better for your CV history. You can also use a website to help you create your perfect CV or resume using a template.

Cancel your allowance from your parents.
If you get a job, you will have a salary, so that means income. BUT THAT DOESN’T THAT YOU’RE AN ADULT AND THAT YOU’VE LEARN YOUR LESSON – I personally believe that I learn a lot more when I first leave my parent’s house to go live in a dorm and for my first hard experience with money. If you have read my previous article, you probably know that I use to be addicted to shopping and when I when broke living all alone, I learn from my mistake. When my father stops my funding I was furious and jealous of my cousin still living from their parent’s revenue, now I am grateful that I learned from diving into the deep end. I can ensure you so much satisfaction for being self-sufficient and setting your parents free from your financial responsibilities. This is your financial wake-up call, and this will oblige you to get your shit together. If you are spoiled when you are alone and if you get to mess up it’s will too late to start over.

Organize your account.
Ideally, you need to have set up 3 differents account within your bank:1) Debit Account where your salary is debited2) Saving readily available in case of raining day and can be created with a minimum money3) Investment account,: to save money and this account is not to be used

I also join another bank to do retirement account you are never too young to open one, the younger you begin it the more cash back you will get when you retired. Distributing my account set up has kept me organised and most importantly, in control of how much I spend each month and save. I also recommended that you use a bank that allows you to do deposit and transaction at the ATM since I know in your 20’s you’re still doing small step into the bank and finish university at hours that bank is usually closed.

Create a budget & monitor your cash flow
If you don’t know how to do a budget, you can always read my article about how to build a budget here. I can ensure you that sticking to a budget will help you put away enormous chunks of money in saving each month, soon enough that you can put a down deposit on your first property! Having an end goal also help! Attempting to put at least 30% of your wages into your saving will helps you grow your financial security even further.

Emergency Fund
It’s great to have a saving account, and it’s also great to have an emergency fund other than your saving. Realistically you should have 6 months waves in your emergency account. This important to get your own security, if anything occurs. This is the millennial method of survival mode.

Be Efficient
Now with all the technology, you can easily download a free app to help you manage your cash flow and daily expenses click here for more information. There is no need to keep up with the Jordan. This LUXURIOUS LIFE that you’re supposedly living will harm you and your finances in the long term. There is no reason to eat out all the time, to have this need trending clothes, there is no need to maintains a false image, Be smart be savvy. That doesn’t mean to clutter your wardrobe with cheap clothes but have a few one high quality that lasts longer, you don’t need to get all the trending clothes that will be fast no-fashionable anymore.

Utilise yourself
If you have a talent, skill, and interest – be smart improve it and utilised it. If your skills are writing why not doing a blog, if your skill is to draw sell your painting, if you’re interested in design to take a photoshop course, etc.. This can help you make an aside income to your primary source of revenue. It all about using your skills for a financial benefit, sometimes something has simple has helped other write their CVs can help you earn a nice bit of pocket money.

Sell what you don’t use or Donate

If you have something, you never wear or never use you can always sell them online or donate them to charity this will make you feel better. And also improve your living. Minimalism is happiness with simplicity.

Quality over quantity
What I have learned over time is that you can buy so many things in excess for the sake that this is on sale. But accumulating a dozen of pairs of shoes, bags, jeans, will actually make your life a living hell and your closet will be so disorganised with all this quantity of clothes. It’s better to have less but quality over this past 3 years I donate almost 90% of my wardrobe, now if you go to my room you can see white space, and I also have no place to put my plant.

How many time have you heard someone said that they couldn’t buy something they wanted, but on the next week or on the next Monday they do because it’s paycheck? (they are living paycheck to paycheck)

I usually hear this sentence at least twice a week, and I don’t talk to a lot of people. This really makes me think that we should teach young adults more about budgeting than mathematic in school. And this made me want to write this article.To help people who were like me, with no clue where to start and how to do a budget.

There is an epidemic of people just surviving paycheck to paycheck. I’m using the word surviving because it what it’s, they’re surviving with what is left of their salary until the next one come. And this needs to stop, people need to stop living this way.

“living paycheck to paycheck – is not really living anyway – it’s more like surviving”

The good news is that it’s not easy to stop living this way but this possible because I was one of them and stop living this way.

Budgeting Tips to Stop Living Paycheck to Paycheck

1st you must find where your money is going, that means writing down every penny you spend on a agenda, paper, notebook or using simple money tracking application free to download like ”Wallet”. You need to find where the essentials part of your money is going and how to reduce it or make extra money. To know if most of your money is going in rent mortgage, power/electricity, heat, debt payment, car, shopping,etc.. After the first month, you will have an idea of where your money is going. This is the most important step because you need to know how and where your money is going to reduce expenses or how to access if you’re even making enough money to cover your necessities, You might not be!

2nd Determine if you’re actually making enough money just to cover your essential. Is your money enough, and if not you need to reduce your expenses and to live from your wage or find a new job with more compensation.

Don’t buy that 200$ bag to put only 100$ inside, buy that 10$ one and put 290$ inside.

If you find paying 20$ for a bag of chicken nuggets is not expensive then you’re making enough money if not then you’re in the category of people that are not making enough money. My best advice is to live like your wage, not more. If you need to compromise your saving to buy a car don’t buy are a car, use public transport.

3rd Only 10% of your salary should go on extra and fun stuff. That means if your salary is 1000$, only 100$ should be used in fun stuff like shopping, eating out, delivery, gym, etc. No more than this. And if you want to do something that costs 200$ you should save 2 months of fun expenses for this. By using this rules you will reduce your extra expenses by half.

4th Put 20% of your salary in an automatic saving account. Live like your salary is 20% less than it is. if you are earning 1000$ / month you real salary is 1000$ – 200$ = 800$ you should live with it. And the 20% (200$) should be put into a saving account or in investment.

5th 40% of your salary should be for the essential, that means rent, electricity, and transport. If your salary is 1000$ your monthly expense on rent and car, etc should be no more than 400$ / month.

6th Follow your rules. I know it’s tough at first to follow new rules but you need to put restrictions on yourself and follows your budget even if it is though.

7th Live with less, that’s the philosophy of minimalist and simple living. Live with less will not only be good for your budget but for your mind and body also. A human doesn’t need more stuff to be happy. For example tv and magazine said: less stuff and more time equated freedom, and space.

8th Identify your bad money habits/attitudes. Don’t buy that Starbucks coffee each day if you cannot afford it, live bellow your means. Don’t buy only this brand, change if it is better for your wallet and better quality. A example of a bad habit could be making your nails every 2 days at an estheticienne or it could be your high maintenance hairstyle or it could be impulse buying (like me) – by identifying them you can cut them down its good for your wallet.

9th Use tools, you can use an agenda to tracks all your incomes and spendings. On your phone there are many free tools you can use like your calendar, notepad or The Wallet mobile application. You can put on your wallet your daily/weekly/monthly spending categorizes by food, transportation and else with clips to don’t overspend; I recommended using this technique Weekly basis to keep tracks on your spendings.

10th Implement Monitor and Adjust. Monitor everything and adjust your budget to your present situation, one month you could spend more for a personal issue and the other less. Adjusting is the character that makes a human being so great.

Following a budget is not always easy and thus in the description, I share some freebies document to use and add the link to download some useful mobile application.